Ukraine Industrial production May 2021


Ukraine: Industrial output growth ebbs in May

June 30, 2021

Industrial output expanded 5.4% in year-on-year terms in May, which followed April's 13.0% increase. Looking at the details of the release, while mining and quarrying output gained momentum in May, while manufacturing production increased at a softer rate.

On a seasonally-adjusted monthly basis, factory output fell 3.0% in May, swinging from April’s 2.6% increase and marking the first contraction in three months. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at minus 0.1%, up from April's minus 1.6% reading.

FocusEconomics Consensus Forecast panelists project that industrial output will rise 3.4% in 2021, which is down 0.3 percentage points from last month’s forecast, and 3.4% again in 2022.


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Ukraine Industrial production Chart

Ukraine Industry May 2021

Note: Year-on-year changes and annual average growth of industrial production in %.
Source: State Statistics Service of Ukraine and FocusEconomics calculations.

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